Mahindra Mutual Fund launches new scheme

Hyderabad: Mahindra Mutual Fund, a wholly-owned subsidiary of Mahindra and Mahindra Financial Services Ltd on Wednesday announced the launch of its new open-ended equity scheme, ‘Mahindra Pragati Bluechip Yojana’. The ninth offering from MMF, it will be open for initial subscription from February 22 to March 8, 2019.

MMF said, the scheme would invest 80 per cent in equity and equity related instruments of large cap companies, and up to 20 per cent in equity and equity related instruments of other companies. Moreover, 20 per cent would be invested in debt and money securities and up to 10 per cent in units issued by REITs and InvITs, the company added.

Speaking to the media, Ashutosh Bishnoi, CEO, Mahindra Mutual Fund, said that the large cap companies in India have shown lesser volatility in different market cycles while valuations have remained reasonable over these market cycles.

Further, in support oflarge cap funds, he added their contribution to the total market cap is nearly 70 per cent. He claims, large cap funds as the best bet while building a portfolio, wherein an investor should consider to add nearly 40 per cent of large cap funds to their investment portfolio.